Intest Corporation · AMEX:INTT
Intest — Q1 2026 Earnings Presentation
22 slides from Intest's earnings presentation, May 5, 2026
Slide 1: First Quarter 2026 Financial Results Conference Call
First Quarter 2026 Financial Results Conference Call May 5, 2026
Slide 2: Forward-Looking Statements and Key Performance Metrics
Forward-Looking Statements and Key Performance Metrics Forward-Looking Statements This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements do not convey historical information but relate to predicte
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures In addition to disclosing results that are determined in accordance with generally accepted accounting practices in the United States (“GAAP”), we also disclose non-GAAP financial measures. These non-GAAP financial measures consist of adjusted net earnings (loss), adjuste
Slide 4: Richard “Rich” Rogoff, President & Chief Executive Officer
Richard “Rich” Rogoff President & Chief Executive Officer | Board of Directors DEEP OPERATIONAL EXPERIENCE 30+ YEARS OF PRIOR EXPERIENCE Independent Consultant to InTest President & CEO | Board Member - March 31, 2026 Advised multiple clients on M&A and corporate strategy, including InTest, prior Di
Slide 5: Q1 Results Reflect Positive Momentum
Q1 Results Reflect Positive Momentum Broad-based Top-line Growth • Q1 revenue increased 27% Y/Y • Non-semi end markets accounted for 69% of total revenue, increases driven by Defense/Aerospace, Life Sciences and Auto/EV Significant Gross Margin Expansion Y/Y • 400-basis point increase, primarily due
Slide 6: Orders and Backlog
Orders(1) and Backlog(1) ($ in millions) Orders Orders Years Quarters Q/Q Q1 declined 15% $37.5 $128.2 $134.7 • Reflects declines in Life Sciences and Semi, $116.6 $31.8 partially offset by continued strength in Auto/ $107.7 $25.3 EV, Defense/Aerospace, and Industrial Y/Y Q1 increased 25% • Driven p
Slide 7: Revenue
Revenue ($ in millions) Years Quarters 69% of Q1 26 revenue from non-Semi markets $130.7 $123.3 $121.1 $113.8 $33.9 Q/Q Q1 increased 3% $32.8 $26.6 • Driven by Semi back-end shipments from backlog and strengthening Auto/EV demand, partially offset by lower Industrial following an unusually strong Q4
Slide 8: Gross Profit and Margin
Gross Profit and Margin ($ in millions) Q/Q Q1 increased 10 bps Years Quarters • Reflected higher volume and a favorable product mix $57.0 $55.4 $53.3 $48.9 Y/Y increased 400 bps • Driven by higher volume, a favorable product $15.4 $14.9 mix and the continued benefit of manufacturing efficiency init
Slide 9: Operating Expenses
Operating Expenses ($ in millions) Operating expenses as a % of sales Increase in Q1 26 for Q/Q and Y/Y primarily 37.7% 39.8% 46.3% 43.9% 52.3% 41.5% 42.7% reflect $0.7 million in non-recurring CEO transition costs Years Quarters $46.5 $52.0 $52.6 $53.2 $13.9 $13.6 $14.5 $0.9 $1.3 $2.5 $3.3 $3.3 $0.
Slide 10: Net Earnings (Loss) and Adjusted EBITDA
Net Earnings (Loss) and Adjusted EBITDA(2) ($ in millions, except margin percentages) Net Earnings (Loss) Adjusted EBITDA(2) Quarters Quarters $5.0 $5.0 9.7% 9.3% 3.8% 2.3% 10% 10% $2.5 $2.5 (3.3%) (8.7%) $— 0% $- 0% $(2.5) (10%) $(2.5) (10%) Q1 25 Q4 25 Q1 26 Q1 25 Q4 25 Q1 26 $(2.3) $1.2 $0.8 $(0.
Slide 11: Earnings (Loss) per Share and Adjusted Earnings (Loss) per Share
Earnings (Loss) per Share and Adjusted Earnings (Loss) per Share(2) Earnings (Loss) Per Share Adjusted Earnings (Loss) Per Share(2) Quarters Quarters $0.20 $0.20 $0.16 $0.16 $0.10 $0.10 $0.06 $0.10 $(0.19) (0.11) $— $— $(0.10) $(0.10) $(0.20) $(0.20) Q1 25 Q4 25 Q1 26 Q1 25 Q4 25 Q1 26 Years Years $
Slide 12: Capital Structure and Cash Flow
Capital Structure and Cash Flow Three Months Cash Flow ($ in millions) Ended Reduced term debt by $1.0 million 3/31/26 12/31/25 during Q1 26 Net cash used in operating activities $(3.3) $(1.0) Capital expenditures (0.6) (0.5) Approximately $56 million in Free cash flow (2), (3) $(4.0) $(1.6) liquidi
Slide 13: Outlook for 2026
Outlook for 2026† Q2 2026 Guidance • Revenue: $32 million to $34 million • Gross margin: approximately 45% • Operating expenses: $13.8 million to $14.2 million • Amortization expense : $0.7 million Full Year 2026 Guidance • Revenue: $130 million to $135 million • Gross margin: approximately 45% • Op
Slide 14: Executing InTest’s Next Phase of Growth
Executing InTest’s Next Phase of Growth Customer Expansion: converting backlog into sustainable revenue growth • Deepen account penetration by leading with new, engineered products and solutions and accelerating cross-business product development across the platform • Expand new customer programs Op
Slide 15: Conference Call Playback Upcoming Events
Conference Call Playback • Replay Number: (844) 512-2921 or (412) 317-6671 passcode: 13759517 • Telephone replay available through Tuesday, May 19, 2026 • Webcast / Presentation / Replay available at www.intest.com/investor-relations • Transcript, when available, at www.intest.com/investor-relations
Slide 16: Supplemental Information
Supplemental Information Q1 2026 Financial Results Conference Call May 5, 2026
Slide 17: Reconciliation of Net Earnings to Adjusted Net Earnings (Quarterly)
Reconciliation of Net Earnings (Loss) to Adjusted Net Earnings (Loss) (Non-GAAP) and Earnings (Loss) Per Diluted Share to Adjusted Earnings (Loss) Per Diluted Share (Non-GAAP) Three Months Ended ($ in thousands, except per share amounts) 3/31/25 6/30/25 9/30/25 12/31/25 3/31/26 Net earnings (loss) $
Slide 18: Reconciliation of Net Earnings to Adjusted Net Earnings (Annual)
Reconciliation of Net Earnings (Loss) to Adjusted Net Earnings (Non-GAAP) and Earnings (Loss) Per Diluted Share to Adjusted Earnings Per Diluted Share (Non-GAAP) Years Ended December 31, ($ in thousands, except per share amounts) 2023 2024 2025 TTM Q1 26 Net earnings (loss) $ 9,342 $ 2,891 $ (2,527)
Slide 19: Reconciliation to Adjusted EBITDA (Quarterly)
Reconciliation of Net Earnings (Loss) and Net Margin to Adjusted EBITDA (Non-GAAP) and Adjusted EBITDA Margin (Non-GAAP) Three Months Ended ($ in thousands, except percentages) 3/31/25 6/30/25 9/30/25 12/31/25 3/31/26 Net earnings (loss) $ (2,329) $ (503) $ (938) $ 1,243 $ 789 Acquired intangible am
Slide 20: Reconciliation to Adjusted EBITDA (Annual)
Reconciliation of Net Earnings and Net Margin to Adjusted EBITDA (Non-GAAP) and Adjusted EBITDA Margin (Non-GAAP) Years Ended December 31, ($ in thousands, except percentages) 2023 2024 2025 TTM Q1 26 Net earnings (loss) $ 9,342 $ 2,891 $ (2,527) $ 591 Acquired intangible amortization 2,095 2,545 3,
Slide 21: Segment Reporting (Quarterly)
Segment Reporting (Quarterly) Three Months Ended ($ in thousands) 3/31/25 6/30/25 9/30/25 12/31/25 3/31/26 Electronic Test $ 13,259 $ 13,733 $ 12,099 $ 17,103 $ 17,341 Environmental Technologies 6,268 7,215 7,490 8,321 8,351 Process Technologies 7,110 7,182 6,647 7,398 8,194 Total Revenue $ 26,637 $
Slide 22: Segment Reporting (12 Months)
Segment Reporting (12 Months) Years Ended December 31, ($ in thousands) 2023 2024 2025 TTM Q1 26 Electronic Test $ 41,016 $ 63,878 $ 56,194 $ 60,276 Environmental Technologies 30,801 28,898 29,294 31,377 Process Technologies 51,485 37,914 28,337 29,421 Total Revenue $ 123,302 $ 130,690 $ 113,825 $ 1